GVR Market Review
Buyers Market — Inventory Remains Elevated — Prices Soften
Wondering what changed in Metro Vancouver's real estate market last month?
October’s Snapshot
After a very slow September Metro Vancouver’s housing market, in October, showed positive sales improvement across the board but it continues to face significant supply pressure and gradually softening prices. A total of 2,255 homes sold—down 14.3% from last year & 14.5% below the 10-year seasonal average—but an increase of close to 400 sales when compared to September.
Inventory remained elevated at 16,393 active listings, well above historical norms. The total number of listings continued to edge higher while new listings in October where less than the number of new listings in September. Even with fewer new listings power is set firmly in the hands of buyers as a backlog of supply continues to push prices down.
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Let’s break down the numbers and what they mean for you.
Market at a Glance
Sales Activity:
- 2,255 residential sales in October 2025
- 14.3% decrease over October 2024
- 380 more sales compared to September 2025
- 14.5% below the 10-year average
New Listings:
- 5,438 properties listed in October 2025
- Up 0.3% from October 2024
- 16.3% above the 10-year seasonal average
Total Active Listings:
- 16,393 homes on the market
- Up 13.2% from October 2024
- 35.9% higher than the 10-year average
MLS® HPI Composite Benchmark Price:
- $1,132,500
- Down 3.4% year-over-year
- Down 0.8% from September 2025
The number of new listings continues to slow, and decreases month-over-month, but supply is still historically high.
Sales up a sizable amount across the board compared to September, but was September was dead slow.
The burst of sales in October came at the expensive of prices. Month-over-month prices continue to trend downwards between 0.3-1.4%
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Sales-To Active Listing Ratio October 2025
Data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
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Breaking Down the Property Types
Detached Homes
- 693 sales in October 2025
- Down 4.3% from October 2024
- 141 more sales than September
- Benchmark Price: $1,916,400
- Down 4.3% from October 2024
- Down 0.9% from September 2025
Apartment Homes
- 1071 sales in October 2025
- Down 23.1% from October 2024
- 117 more than September
- Benchmark Price: $718,900
- Down 5.1% from October 2024
- Down 1.4% from September 2025
Attached Homes (Townhouses)
- 477 sales in October 2025
- Down 4.8% from October 2024
- 121 more than September
- Benchmark Price: $1,066,700
- Down 3.8% from October 2024
- Down 0.3% from September 2025
Metro Vancouver Market Highlights October 2025:
What's Driving Trends?
October brought a welcome uptick in sales after a sluggish September, but Metro Vancouver’s market remains firmly in buyer territory despite October having fewer new listings than September. Activity climbed by nearly 400 transactions month-over-month, yet sales still sit over 14% below both last year and the ten-year average.
Buyers remain wary. Supply is still near an all-time high.
Oversupply is putting steady downward pressure on prices which is helping the market show signs of life. The increased sales seen in October, compared to September, can largely be attributed directly to sellers willingness to negotiate on listing price.
Even with the Bank of Canada’s latest rate cut, most buyers remain cautious, creating a market that’s active but clearly adjusting as 2025 winds down.
Buyers are in control. And many are still waiting due to economic hardships and an uncertain political future.
High supply, world events linked to the economy, and a cautious buyer pool are the key factors shaping the market currently.
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Expert Insight
Andrew Lis, Director of Economics and Data Analytics at Greater Vancouver REALTORS®, reflects on the latest housing data:
“October is typically the last month of the year where sales activity sees a seasonal uptick, but sales still fell short of last year’s figures and the ten-year seasonal average. Even the fourth cut this year to the Bank of Canada’s policy rate this October wasn't enough to entice more buyers back into the market."
Lis also pointed out:
“After peaking in June, inventory levels have edged lower, and prices have eased across all market segments as slower-than-usual sales activity meets the highest inventory levels seen in many years,” Lis said. “With no further reductions to the Bank of Canada’s policy rate expected in 2025, market conditions appear as favorable for buyers as they’ve been all year.”
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What This Means for Buyers & Sellers
For Buyers
- Strong Leverage Across the Board – Elevated inventory and motivated sellers are keeping prices soft; buyers have more negotiating power than at any point this year.
- Long Term Value – With prices down between 3.8% & 5.1% year-over-year and supply still high, the present market offers great opportunity for long-term buyers. As of October detached houses are under the most downward pressure.
- Act Before Momentum Builds – October’s uptick in sales may signal renewed activity. As listings slowly decline, today’s choice-heavy conditions could tighten heading into winter.
For Sellers
- Price Strategically – With 16,000+ listings on the market, standing out requires sharp pricing and strong presentation to attract cautious buyers.
- Detached Segment Under Pressure – Oversupply continues to weigh on detached pricing; competitive positioning is key to securing offers. (this is true for condos and townhouses as well…just to a lesser degree)
- Use Marketing to Your Advantage – Exposure matters more than ever. High-quality visuals, targeted reach, and local expertise help listings rise above the noise.
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Greater Vancouver Home Sales 2025 VS 2024
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Looking Ahead
As we move into the winter months, Metro Vancouver’s market is expected to stay buyer-focused, with elevated inventory continuing to shape conditions. While sales may taper seasonally, motivated sellers and softening prices could keep opportunities strong for buyers ready to act. For sellers, the quieter pace ahead means presentation and pricing strategy will be more important than ever. Unless a major shift in economic sentiment occurs, the winter market is likely to remain steady, measured, and firmly in the hands of buyers.
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CLICK HERE FOR THE FULL GVR October 2025 STATISTICS PACKAGE
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